Answer :
Answer:
Four; introduction, growth, maturity and decline
Explanation:
Product life cycle can be defined as the different stages that a product undergoes from its inception into the market till when it goes out of the market. It consists of four stages namely:
- Introduction
This is the first stage of a product life cycle. In this stage the newly developed product are released into the market so it can be purchased by potential customers. This stage is accompanied by high price, less competition.
- Growth
In the growth stage, there is an increasing demand for the product. This leads to an increase in sales, there is a a high rate of competition in this stage. In the growth stage different marketing strategies are introduced to promote the product.
- Maturity
In the maturity stage, sales of the product tend to drop due to a saturated market. In the stage the company develops news ideas to rebrand their products so as to remain relevant in the market.
- Decline
In the decline stage, the sales of the product begins to drop as there is less demand for the product in the market.
Answer:
A. four; introduction, growth, maturity, and decline
Explanation:
Base on the scenario been described in the question, the correct answer is option a
The product life cycle refers to the different process a product undergoes from when it is first introduced into the market until it extinct or no longer in the market. The life cycle has four stages as follows , introduction, growth, maturity and decline.